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November 1, 2021

Oak View 3rd quarter profit up 8.8% year-over-year

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Oak View National Bank’s total assets have risen to $327.7 million as of Sept. 30.
During the quarter, a record number of over 400 new accounts were opened, which contributed significantly to our growth for the period.
— CEO and Chairman Michael Ewing
Warrenton-based Oak View National Bank reported net income of $621,554 for the quarter that ended Sept. 30.

That represents an 8.8-percent increase from the profit of $571,113 for the third quarter of 2020.

Net income for the first nine months of 2021 totals $1.6 million, compared to $1.43 million for the same period last year.

Basic and diluted earnings per share rose to 55 cents for the year so far, versus 50 cents during the first nine months of 2020.

“We are pleased with the financial results for the third quarter,” CEO and Chairman Michael Ewing said. “And equally important, we are extremely proud of our employees who, as the momentum in opening new accounts increased, remained focused on providing an exceptional experience at every customer interaction.

“During the quarter, a record number of over 400 new accounts were opened, which contributed significantly to our growth for the period.”

Total deposits increased to $283.73 million from $239.89 million a year earlier.

Total assets stood at $327.72 million Sept. 30, up $43.15 million from the same date in 2020.

The bank had just one non-performing loan on Sept. 30, totaling $5,985, and no past due loans.

Founded in 2009, Oak View National has bank offices in Warrenton, Marshall and Culpeper and a loan production office in Washington, Va.
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